November 22, 2017
Friday, April 25, 2014

Wall St trips as Amazon tumbles; indexes slip for week

US stocks fell today, pulled lower by a selloff in consumer discretionary stocks as bellwether names and Ford Motor fell in the wake of their quarterly earnings.

Amazon was the S&P 500's worst performer, down 9.9 percent to $303.83, and other high-flying sectors dropped along with it. Social media names slid, with Twitter losing 7.1 percent to $41.61, and the Nasdaq Biotechnology Index falling 2.4 percent as investors once again shied away from riskier sectors.

The Global X Social Media index ETF tumbled 5.3 percent, its second-worst performance since its debut in November 2011.

Ford Motor Co shares fell 3.3 percent to $15.78 after the No. 2 US automaker reported first-quarter earnings that missed expectations. The company's results were hurt by higher warranty costs in North America.

The Dow Jones industrial average fell 140.19 points or 0.85 percent, to end at 16,361.46. The S&P 500 dropped 15.21 points or 0.81 percent, to 1,863.40. The Nasdaq Composite tumbled 72.777 points or 1.75 percent, to 4,075.561.

For the week, the Dow fell 0.3 percent, the S&P 500 dipped 0.1 percent and the Nasdaq lost 0.5 percent.

Volume was light, with about 5.49 billion shares traded on US exchanges, well below the 6.57 billion average so far this month, according to data from BATS Global Markets.

Declining stocks outnumbered advancing ones on the NYSE by a ratio of 2 to 1, while on the Nasdaq, five stocks fell for every one that rose.

German stocks led European shares lower as new signs of violence in Ukraine hit sentiment, although equities remained underpinned by corporate takeover activity.

Germany's DAX index, seen as the European market most exposed to the crisis in Ukraine, closed down 1.5 percent, at 9,401.55 points.

The DAX, which has outperformed other European stock indexes for years, is down 1.6 percent so far in 2014, trailing France's CAC 40, up 3.4 percent in 2014, Milan's FTSE MIB, up 13 percent and Madrid's IBEX, up 3.9 percent.

Deutsche Bank was among the biggest blue-chip losers, down 2 percent on a report that it may raise as much as 5 billion euros ($6.91 billion) in capital this year to cope with European stress tests and new capital rules.

The pan-European FTSEurofirst 300 index, which hit a near six-year high earlier this month, was down 0.8 percent at 1,332.83 points at the close.

The euro zone's blue-chip Euro STOXX 50 index shed 1.3 percent, to 3,147.40 points.

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Edition No. 5055 - This publication is a property of NEFIR S.A. -RNPI Nº 5343955 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA - Director Perdiodístico: Ricardo Daloia